The Supervisory Body for the Article 6.4 Mechanism (SBM) has adopted a new standard that addresses when and how inadequate local living conditions are recognised in project baselines under the Paris Agreement Crediting Mechanism (PACM).

Not much - Carbon Brief analysis finds that US President Donald Trump’s new tariffs are likely to have only a minimal impact on global CO2 emissions, despite some suggestions they could slow economic activity enough to cut emissions. The study estimates the measures – including a 10% universal levy on all imports and additional “reciprocal tariffs” on selected countries – would reduce 2025 emissions by just 110-150 Mt of CO2 (0.3-0.4%) compared to pre-tariff forecasts. In 2026, the effect could rise slightly to 190-300 MtCO2 (0.5-0.8%). The calculation uses changes in GDP growth projections from the IMF, OECD, and World Bank between late 2024 and mid-2025 to estimate the knock-on effect on emissions from fossil fuels and cement. Although headline rates from the April “liberation day” announcement have since been lowered through deals with the EU, UK, Japan, the Philippines, and others, US import levies remain at their highest since the 1930s, sustaining uncertainty over trade and growth. Experts warn that any short-term climate benefit would likely be outweighed by longer-term harm, as tariffs risk slowing investment in clean-energy projects, particularly by disrupting supply chains for low-carbon technologies. Carbon Brief notes that since returning to office in 2025, Trump has repealed multiple climate policies, including the Inflation Reduction Act, and is set to miss the previous US 2030 emissions target by a cumulative 7 bln tonnes of CO2. While tariffs may slightly dampen global GDP growth and thus emissions in the near term, Carbon Brief concludes that their overall climate impact is small and likely negative over the medium-to-long term.

Not welcome – The city council of Belem, which will host COP30 in November, approved on Wednesday a motion declaring US President Donald Trump persona non grata, Folha de S. Paulo reported. The proposal was a response to the recent 50% tariffs imposed by the US government on Brazilian products. On Thursday, Brazil’s President Luiz Inacio Lula da Silva said he would not call Trump to negotiate the tariffs, as the American leader is unwilling to discuss them, but rather to invite him to attend COP30 in Brazil to talk about climate issues.

Expensive even for the president – Austria’s President Alexander Van der Bellen will not attend COP30 in Belem. The head of state acknowledged the symbolic importance of holding the summit in the Amazonian city, but said the “particularly high costs” are beyond the presidency’s limited logistical budget. A delegation of Austrian negotiators and Environment Minister Norbert Totschnig will represent the country. (G1)

The European Commission said it will carry out an impact assessment on the use of international carbon credits as part of reaching the bloc's 90% emissions reduction target by 2040, but confirmed that this was not done prior to the proposal being put forward.

South Pole, one of the largest developers and financiers of carbon projects, has revealed a sharp slowdown in new credit certification last year as it pivoted towards a new approach to the market.

Capitalism vs. climate - The goal of many countries to reach net zero by decarbonising their economies and shifting from fossil fuels towards renewable energy fundamentally challenges the basic functions of the underlying liberal capitalist state, argues a paper on nature.com. The prevalent model of the liberal capitalist state being ensuring economic growth and providing security helps to explain some of the implementation gap between ambitious climate targets and actual policies. The authors analysis these limitations and lay the way for further research on the topic.

Verra has partnered with a global insurance firm to assess whether specific insurance products meet the requirements for carbon credits intended for use under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).

Analysts have raised their price expectations for 2025 EU carbon allowance prices by 10%, they said this week.

All aboard the (no) love boats - Details have emerged surrounding the cost and availability of rooms aboard two cruise ships to be docked outside of Belem to provide additional supply of accommodations during COP30 in November. According to marketing materials prepared by Flytour and Qualitours – the tour operators managing the COP30 cruise ship offering – and seen by Carbon Pulse, the 1,862-cabin Costa Diadema and the 2,020-cabin MSC Seaview will be moored in the expanded Port of Outeiro some 25 km or 45 minutes from the climate summit venue. Launched in 2014, the Costa Diadema can accommodate nearly 5,000 people, offering eight restaurants, 11 bars, and 11 swimming pools and whirlpools. The MSC Seaview, inaugurated in 2018, can accommodate more than 5,300 passengers and features an “interactive” waterpark. But these oceanic options are not cheap. The brochure shows the cheapest options are €1,200-1,400 per night for a single-occupancy veranda/balcony room, based on a minimum 17-night stay. That price drops to €600-700 per person per night with two people sharing a 17-20 square metre cabin, with most rooms featuring a double bed and a pull-out sofa. Triple and quadruple options are also available, bringing the price down as low as €300-350 pp pn, but that would involve attendees sharing beds – and it doesn’t avoid the minimum cost of €20,000 per room. Some 75 suites on the Costa Diadema and 86 on the MSC Seaview are also available, but prices go up to €2,900-3,100 pn for the cheapest single-occupancy options, and to €3,450-4,400 pn for the more lavish ‘Grand Suites’, which can sleep up to five people across two bedrooms and a ‘separate living area’ sofa. According to the booking website, all of the Costa Diadema’s 940 ‘internal’ and ‘external’ cabins, plus the 480 equivalent options on the MSC Seaview, have been booked, with a further 56% of the 846 veranda/balcony rooms on the Costa Diadema also now reserved. At around 1,370, the MSC Seaview features significantly more veranda/balcony cabins, but it’s not clear how many remain available. The revelation confirms Carbon Pulse’s reporting from earlier this week that COP30 organisers are expecting delegates to share beds – a proposition that is being resolutely rejected by governments. Parties have also heavily criticised the exorbitant accommodation costs, with prices for private residences in Belem being offered to delegates via the bnetwork-managed COP30 booking portal ranging from $200 to over $15,000 per night (some lower-priced apartments appear to have been made available since the last update). Brazilian officials have rejected calls to relocate the conference to another, larger city, insisting there will be enough beds in Belem (over 55,000 across nearly 30,000 rooms) for the expected 50,000+ attendees. “In 30 years of participating at COPs, I have never seen an accommodation situation as extortionary and chaotic as in Belem. While there has been a tendency to see COP participants as victims to ‘milk’ as done by the Egyptian government in Sharm el-Sheikh in 2022, and by Azerbaijan in Baku in 2024, Belem pricing excesses dwarf these past events,” said Axel Michaelowa, senior founding partner at the Perspectives Climate Group consultancy. “COP stalwarts should protest by bringing a camping kit and putting up one’s tent inside the blue zone – probably the safest place in Belem and following the recommendation of Brazilian President Lula to ‘sleep under the stars’.”

Switzerland has hired a ratings agency to evaluate Article 6 carbon projects in the wake of criticism over the additionality of the first-ever Internationally Transferred Mitigation Outcomes (ITMOs) transferred under the Paris Agreement.

Pressure campaign - The Trump administration is intensifying pressure on the International Energy Agency (IEA), seeking to oust Deputy Executive Director Mary Warlick, a former US diplomat, over the agency’s perceived anti-fossil fuel stance. Republicans accuse the IEA of discouraging oil and gas investments through forecasts showing declining demand. Energy Secretary Chris Wright has publicly criticised the IEA and warned of potential US withdrawal if reforms aren’t made. A key point of contention is the IEA’s shift away from its “Current Policies Scenario”, which reflects only enacted national policies, towards scenarios seen as favouring clean energy transitions. The IEA has pledged to restore the Current Policies Scenario in its 2025 World Energy Outlook. Warlick, appointed in 2021, is reportedly facing pressure from the Department of Energy to step down. Though the State Department initially resisted her removal, recent bureaucratic changes may now ease such efforts. However, the US cannot unilaterally dictate IEA staffing decisions, as it is one of 32 member countries. The administration is also threatening to cut IEA funding in the 2026 budget, aligning with broader moves to withdraw support from international organisations seen as misaligned with Trump’s energy agenda. Despite the pressure, IEA leadership has defended its work, emphasising its commitment to energy security and broad scenario analysis. (E&E News)

Not robust enough - The Article 6 framework for international carbon trading is "simply not robust enough to ensure the transparent trade of high-quality carbon credits, with troubling ramifications for global climate action", concludes Carbon Market Watch (CMW) in a report examining the Art.6 rulebook. Art. 6.4 performs better overall than Art. 6.2, but still scores badly on permanence and equity, it found. Gaps and loopholes in Art. 6.2 must be resolved when the Art. 6 rulebook comes under review in 2028, while for Art. 6.4., these revisions can already take place given the Supervisory Body can continually change its rules. CMW urges developed countries to prioritise emissions reductions without using Article 6 to achieve their climate targets.

Japan has issued this fiscal year's second call to subsidise project proposals that can provide benefits beyond emissions reductions under the bilateral Joint Crediting Mechanism (JCM).

The European Commission may delay some elements of its carbon border fee until global trade tensions ease, particularly as developing countries question the way that revenues will be spent and consider their own retaliatory instruments, experts say.

Current climate finance flows to Thailand are only around half of what the country needs to meet its Paris Agreement and net zero targets, leaving the country with an $11-17 billion annual investment gap, according to a report released Thursday.